Analyst Views: What did you make of SSE’s price freeze and business plan? March 26, 2014 PETER ATHERTON | LIBERUM SSE are battening down the hatches. The price freeze won’t cost them that much; the big variable is wholesale power prices that could eat into earnings. ANGELOS ANASTASIOU | WHITMAN HOWARD The price freeze will lock SSE into lower returns, but by being proactive the firm has reduced the fear of political interference [...]
Murdoch moves eldest son into chairman role March 26, 2014 RUPERT Murdoch yesterday took a key step in preparing News Corp and Twenty-First Century Fox for his eventual retirement by promoting his two sons into key leadership positions. Murdoch’s eldest son Lachlan, 42, will return to the business as non-executive co-chairman of both News Corp and Twenty-First Century Fox, roles he will share with his [...]
London house prices are not a bubble say official forecasters March 26, 2014 LONDON’S house prices are booming because of a lack of supply and are not in a bubble, the Office of Budget Responsibility (OBR) told MPs yesterday. Prices are rising by around 10 per cent per year in the capital, but are not set for a crash because demand will continue to outweigh supply. The OBR [...]
Labour triumphs in welfare vote March 26, 2014 LABOUR leader Ed Miliband avoided the mass revolt many party insiders were predicting yesterday, after just 11 Labour MPs voted against the welfare cap. The cap, proposed by the government and set at £119bn for 2015/16, was supported by Miliband’s party. High-profile dissenters included former shadow ministers Diane Abbott and Tom Watson, along with work [...]
Farage tops poll against Clegg in debate over EU March 26, 2014 UKIP leader Nigel Farage triumphed in yesterday’s tussle with deputy prime minister Nick Clegg over the UK’s membership of the European Union, according to a YouGov poll. The hour-long TV and radio debate focused on the impact of the EU on areas as widespread as immigration, jobs, the European arrest warrant and the crisis in [...]
Bottom Line: King has to build a wider empire March 26, 2014 NOTHING suggests the triumph of image over substance like sending giant, candy-coloured cartoon figures to stand behind your executives for a New York Stock Exchange debut. Investors refused to be charmed by King Digital’s big-eyed mascots, and instead sent their spirits plummeting as soon as chief exec Riccardo Zacconi declared the US market open. The [...]
IMF set to hand Ukraine $15bn aid deal March 26, 2014 THE INTERNATIONAL Monetary Fund, led by Christine Lagarde, is expected to offer Ukraine an aid deal worth about $15bn (£9.05bn), the lower end of what the struggling interim government had asked for. The country’s state oil firm also announced plans to hike gas prices for consumers by 50 per cent in May.
Lloyds set to be private in a year March 26, 2014 THE GOVERNMENT could sell its entire stake in Lloyds Banking Group before the general election, analysts believe, after it sold another 7.78 per cent stake. It came as ratings agency Fitch put the bank on negative outlook as government support is withdrawn The Treasury raised £4.2bn in the sale and now holds 24.8 per cent. “If the [...]
Law firms see more mergers March 26, 2014 MORE than 70 per cent of UK law firms are expecting more consolidation across the sector this year, as firms compete for a bigger slice of the legal market. A total of 70.6 per cent of firms expect merger activity to increase, with the desire to grow overseas and add extra services to their practice driving [...]
Standard Life shares shoot up after Ignis deal March 26, 2014 STANDARD Life saw its share price rocket yesterday after it announced the acquisition of Ignis Asset Management for £390m. The insurance and pensions specialist saw its shares shoot up seven per cent to 400p per share after the purchase was announced. The deal signals a shift towards investment management and away from its core business [...]
